With cash accounting, the transaction wouldn't be recorded until cash changes hands. Another example of a liability is money owed to a bank or an employee.

A common form of cookie jar accounting is to "recognize" or state a liability when the company in fact has not incurred a liability. For example, company executives may say they plan to reorganize ...

As noted above, a company's deferred long-term liability charges appear as one-line items on its balance sheet. As such, there is normally no indication about what these charges entail.

This study consists of a quantitative and qualitative assessment of the application of the super simplified reporting regime for micro companies as defined in the new Accounting Directive (2013/34/EU) ...

It's no secret that proper financial planning is key to a successful future. But what many people don't know is what happens to their tax liability with a well-thought-out plan. For example, what ...